Yes, that is a Death Star bean bag chair. It gets better. The other side features the Millennium Falcon. I spotted this in the Lucasfilm Pavilion at Comic-Con - I believe it was priced at around $99.
I really wanted to test it out and sit on it, but I got the vibe the staff didn't want any butt prints on it (they were super nice though). It should be a Celebration, and I'll try to take it for a test... sit. Yeah.